Industrial Rubber Market
Global Market Study on Industrial Rubber: Others End User Segment Anticipated to Register Low Value CAGR During 2016 - 2026
Industrial Rubber Market Segmented By Natural Rubber, Synthetic Rubber Product with Injection Molding, Compression Molding, Extrusion Processing Method
Industrial rubber is of two types, namely natural and synthetic. Natural rubber consists of polymers of organic compounds like isoprene obtained from latex, rubber trees and other plants. On the other hand, synthetic rubber is an elastomer developed by the polymerization of unsaturated hydrocarbons from petroleum byproducts manufactured in the petrochemical industry. The use of industrial rubber is dominated by one major product – tires. The global industrial rubber market is expected to witness significant growth due to a growing consumption of rubber in the tires manufacturing industry.
Commercially, industrial rubber is mainly used for making tires used in bicycles, trucks, aircrafts and automobiles. However, industrial rubber is also used in various other industrial applications like conveyor belts, hoses, sealing products, and gaskets, which include a number of products such as floor and wall coverings, mechanical rubber goods, wiper blades, high pressure hoses, roll coverings, large bore dredging hoses, vibration control products, transmission belts, belt drive systems, molded rubber goods, weather stripping products, flat belts, non-flat belts, rubber belting, sheet & film, rubber hoses, elevators, conveyor belting, geo-membranes and fabricated rubber products.
The global industrial rubber market was valued at nearly US$ 89 Bn in 2015 and is expected to expand at a CAGR of 6.1% to reach nearly US$ 168 Bn by 2026 end. In terms of volume, the global industrial rubber market is expected to register a CAGR of 5.6% during the forecast period. In terms of value, the global industrial rubber market is estimated to create incremental dollar opportunity of nearly US$ 80 Bn and expand 1.8X between 2016 and 2026.
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List of Companies
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Bando Chemical Industries, Ltd
- Trelleborg AB
- Eaton Corporation PLC
- Continental AG
- Yokohama Rubber Company Ltd.
- Parker-Hannifin Corporation
- Carlisle Companies Inc.
- Nichirin Co. Ltd.
Global Industrial Rubber Market Analysis, by End User
The Automotive & Transportation segment is expected to emerge as the most attractive segment in the global industrial rubber market over the forecast period
The Automotive & Transportation segment was estimated to account for 41.9% share of the global industrial rubber market by 2016 end. It is expected to be a highly attractive segment in terms of CAGR and market share during the forecast period. The Industrial Machinery & Equipment segment is anticipated to create substantial incremental opportunity during the forecast period due to the increasing use of industrial rubber in conveyor belts and other belting applications in agriculture and construction machinery.
The segment is estimated to account for 29.7% share of the global industrial rubber market by 2026 end. In terms of revenue, the Building & Construction segment is projected to account for 19% share of the global industrial rubber market by 2026 end. The segment is likely to record a low market attractiveness index compared to other end user segments.
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Significant trends in the global industrial rubber market
Proliferation of tire manufacturing companies in APEJ
APEJ has a significant contribution in the global industrial rubber market. It is a leading region in terms of production and consumption of rubber. An emerging trend in APEJ is to manufacture motorcycle and bicycle tires. In addition, many stakeholders are exhibiting interest in the manufacture of car and truck tires and this segment is forecasted to overtake the manufacturing of bicycle and motorcycle tire business in the region.
The APEJ region also boasts of a robust automotive market. It is an emerging market in terms of production and sales of automobiles. In emerging economies such as India, Sri Lanka and Bangladesh, there is a healthy market for automobiles used for commercial purposes, hence there is growth in the manufacture and sales of heavy vehicles such as trucks and buses in such countries. Many stakeholders are showing interest in the manufacture of truck and bus tires.
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Increasing competition from substitute products threatening the dominance of industrial rubber
Thermoplastic elastomers are the possible substitutes abundantly used in all applications involving industrial rubber. It is expected to replace synthetic and natural rubber in a variety of applications like automotive, construction, foot wear, wire and cables and has prospered to a great extent. Thermoplastics have successfully been replacing industrial rubber in all such application areas. This is a major restraint affecting the global industrial rubber market.
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The market is segmented as follows:
By Product Type
By Processing Method
By End User
The report covers an in-depth analysis of all components of the value chain in the global industrial rubber market. In the final section of the report on the global industrial rubber market, a competitive landscape is included to provide a dashboard view of global industrial rubber market manufacturers, retailers, and distributors. The report also contains company profiles of some of the key players in the market.